The new business equation after COP30

This month's COP30 in Belém marks a turning point for the private sector. In a context of economic volatility, extreme weather events and regulatory pressure, sustainability is no longer a reputational issue but a determinant of the cost of capital, market access and operational resilience. 

The COP30 presidency has put forward a Action Agenda aimed at mobilizing stakeholders to accelerate solutions that promote climate justice, food security and reduced inequalities. Dan Ioschpe, Brazilian entrepreneur and High Level Champion, summed it up as a “mutirão”: a global collective effort that connects governments with solution drivers on the ground.

This political momentum comes at a decisive time. To date, 113 countries, including Peru, have submitted new or updated Nationally Determined Contributions (NDCs), which represent 70% of global emissions and define more demanding frameworks for sectors such as energy, infrastructure, agribusiness and transportation. According to the WBCSD, companies are calling for clear and predictable policies that make investments in decarbonization and nature protection viable. Latin America is no exception: standards such as IFRS S1 and S2 are beginning to be integrated into financial systems, driving a regulatory convergence that will transform how companies report, manage and finance their transition.

Climate risk is already a factor in financial decisions. The Global Investor Survey reveals that 73% of investors would increase their investment in companies that build resilience to physical climate risks. For boards and executive teams, this means incorporating climate scenarios into strategic planning, assessing impacts on costs, supply chains and new investments, and prioritizing actions that strengthen resilience.

Climate transparency is another key pillar. Just as countries report their progress through Biennial Transparency Reports (BTRs), companies must adopt comparable and auditable metrics that integrate environmental performance, risks and opportunities. Global sustainability standards, including IFRS, are moving towards becoming a financial market requirement. Early adopters will gain access to better credit conditions, reduce costs and gain credibility with investors who already incorporate climate criteria.

After COP30, Latin American companies face three inescapable tasks: assess how climate risks may affect their operations and costs; integrate climate metrics into investment, financing and corporate management decisions; and participate in spaces such as the Action Agenda, The standards that will guide trade and sustainable investment in the next decade will be defined. The path is set. Are Peruvian companies ready?